Trump's Iran Talks Send Oil Prices Below $100
Oil prices dropped below $100 a barrel on Wednesday after US President Donald Trump announced that American and Iranian representatives had held talks at the United Nations.
The three-hour meeting was described by Trump as 'very good' and 'very productive', with another meeting planned soon. This comes just hours after he told the UN that he faced a 'big decision' on whether to reach a deal with Iran or 'annihilate the Islamic Republic and do it quickly'.
The US and Iran remain at an impasse, with Iran keeping the Strait of Hormuz closed and the US maintaining a blockade of Iranian ports. The conflict has disrupted energy exports through the Red Sea.
According to Stephen Innes of Quintex Intel, 'The three-hour US-Iran meeting matters because it shifts the market from pure escalation pricing toward a genuine diplomatic process, even if a final deal still looks distant.'